KB Real Estate releases October housing price trends; national sale price outlook index hits six-month low

Real estate agencies in the Sanggye-dong neighborhood of Seoul. [Yonhap]
Real estate agencies in the Sanggye-dong neighborhood of Seoul. [Yonhap]

Seoul apartment prices rose at their slowest pace of the year this month, with northern districts such as Nowon and Dobong leading gains while Gangnam-gu and Seocho-gu posted declines. Gyeonggi Province recorded a 0.74 percent increase, outpacing Seoul.

According to October national housing price trend data released Sunday by KB Real Estate and Yonhap, Seoul apartment sale prices rose 0.61 percent from the previous month.

The pace of gains has narrowed for two consecutive months, with this month's rate marking the lowest level of the year.

By district, northern Seoul led the way: Nowon rose 1.52 percent, Jongno 1.32 percent, Dobong 1.29 percent, Seongbuk 1.25 percent, Jungnang 1.14 percent and Dongdaemun 1.10 percent.

Southern Seoul told a different story. Gangnam-gu fell 0.33 percent from the previous month, while Seocho-gu slipped 0.04 percent.

Elsewhere in the greater metropolitan area, Gyeonggi Province rose 0.74 percent and Incheon gained 0.08 percent from the previous month.

Within Gyeonggi Province, Hwaseong Dongtan led with a 2.71 percent gain, followed by Hwaseong Byeongjeom at 2.42 percent, Gunpo at 2.29 percent and Suwon Yeongtong at 2.12 percent.

Areas that fell within Gyeonggi Province included Icheon, down 0.84 percent; Anseong, down 0.45 percent; Dongducheon, down 0.26 percent; Goyang Ilsanseo-gu, down 0.18 percent; and Hwaseong Mansegu, down 0.16 percent.

Nationwide, apartment sale prices rose 0.32 percent from the previous month, while national housing jeonse prices climbed 0.22 percent.

Among metropolitan areas, Gyeonggi Province posted the highest gain at 0.46 percent, followed by Seoul at 0.31 percent and Incheon at 0.24 percent.

The national sale price outlook index — compiled from a survey of about 6,000 licensed real estate agencies — fell 1.5 points from the previous month to 106.2.

A reading above 100 indicates that more respondents expect prices to rise within three months than fall; a reading below 100 signals the opposite.

Seoul's sale price outlook index stood at 112.8, down 3.6 points — its lowest reading in six months.


jeongwan@heraldcorp.com